It’s commonplace nowadays to be hearing more about crypto and blockchain technology than ever before. So you could say the pair that go hand in hand have come a long way. And they have. Cryptocurrencies and blockchain have emerged from their position underground to influence the mainstream across many areas, with online gaming one of several feeling a positive impact. But what are the reasons behind a more substantial influence in online gaming? And how are companies making it happen?
Gaining Credibility
As mentioned above, cryptocurrencies such as Bitcoin and the technology behind them, like blockchain, started underground. As a result, many people didn’t know any of it existed until a few years ago when mainstream traction gathered momentum. Therefore, it makes sense to think that cryptos and blockchain didn’t have credibility. And with that, they didn’t have trust. Online gaming is an industry where funds change hands, so you need both or people won’t go with it.
Over time, crypto and blockchain companies have worked tirelessly to gain credibility. And one of the ways they have done it is by aligning with reputable brands and global organisations. As a result, it’s helped to put cryptos and blockchain on the map, giving people trust in the various products because they see Crypto.Com partnering with the UFC and Formula 1, and Socios.Com working with the likes of Arsenal and Inter Milan, for example.
Providing Solutions
Nothing is perfect or without fault, which applies to the online gaming sector and the casinos within it. In the past, punters have taken issue with waiting times for withdrawals to process, the fact they can’t access gambling services from their location, or that they don’t feel making transactions at online casinos is secure, to name but a few problems.
Well, what cryptocurrencies and blockchain technology do is provide solutions to common complaints. For example, while many fiat payment solutions have hastened their processing times for withdrawals, cryptocurrencies immediately offered a fast and hassle-free way to redeem funds. Cryptos are decentralised, too, meaning anyone from anywhere can use them for gaming online, and as there is no third party involvement in transactions, they are more secure as a result.
Consistently Improving
When the crypto and blockchain era began in the online gaming universe, you could say it was very basic. But, of course, it’s normal to expect that because it did represent the first foray into a modern industry that evolves regularly. So, seeing simple dice games available to play was standard at crypto casino sites, but it would never stay this way.
Crypto and blockchain have come too far not to keep moving forward at breakneck speed. And now, while crypto-exclusive platforms remain, they are populated with the latest and best games from industry experts. And, another point to note is that many mainstream casinos sites welcome crypto users through their virtual doors. So again, these players will be consuming content from the likes of NetEnt and Microgaming.
Bonuses And provably Fair Games
We’ll close by proferring another two crucial reasons why many are buying into online gaming through cryptocurrencies. And another tick in the box for blockchain technology. As everyone knows, gaming platforms have bonuses aplenty for both new and existing members. And now, operators are actively encouraging punters who sign up to deposit using cryptocurrencies such as Bitcoin by putting forward bespoke rewards for doing so. So how can anyone not consider adding funds using cryptos if they’ll pick up perks in return?
And finally, everyone reading this will have all heard suggestions that casino games will never payout. They are there to cheat punters out of their funds. The only winner is the house. And so on. Blockchain technology goes some way to dealing with these shouts because games can be provably fair as a result. So, any online gamers concerned about transparency or honesty when playing their favourite slot games can rest assured that everything is above board when they play provably fair content. It provides the peace of mind to go out and have more fun, and you can’t ask for much more than that.